Daily Archives: May 22, 2017

Metro City Forum shopping mall has opened in the new boulevard of Batumi. The center is located on 16 000 square meter space within a two-floor building. The shopping mall will give a room to various well-known brands. The center is expected to employ about 500 citizens. Metro City Forum …

Minister of Agriculture does not consider accurate direct alienation of agricultural lands without any liabilities for non-residents. Levan Davitashvili stated on more responsibilities linked to the issue, extortion consumption and high risk of resource cannibalization at the seminar in Kvareli. He drew attention to the expansion of market for agro …

International Monetary Fund (IMF) names fiscal risks reasons. Francois Painchaud, resident representative of IMF in Georgia, noted that the so-called PPP projects may inspire a growth in fiscal risks. IMF also considers Partnership Fund of Georgia to be one of the inspiration factors for fiscal risks. “State debts started growing since …

Few months ago, new startup of notebooks, Mind Map appeared on the market. The idea of startup is to help people manage their time and making decisions. There is space for ideas, aims, wishes, music schedule, interests and etc. in the notebook. Three friends: Nina Gomarteli, Tako Lekiashvili and Ani …

31-floor Batumi Multifunctional Residential will be launched in 2018. Currently, construction of 15 floors is completed. 15 000 square meters will be used for residence and rest of the space will be occupied for the hotel. Half of the residence has already been sold out. At the same time, there …

Turkey and Georgia will discuss development of economic relations during the 2nd meeting of the High Level Strategic Cooperation Council between Turkey and Georgia, the Turkish Economy Ministry told Trend May 22. Prime Minister of Turkey Binali Yildirim will today arrive in Georgia on a two-day visit to participate in …

First Georgian olive oil trickles into the market. The head of Georgian Olive Oil, Giorgi Svanidze declared that the production will be sold in Carrefour Supermarket network and in the future, in Agro Hub too. Next year, the company is planning to sell production in almost all large supermarkets. During …

An organizer of the Mercedes-Benz Fashionweek Tbilisi Sopho Chkonia says that it is difficult for Georgian designers to export their products because of high customs duties. According to her, the industry needs more support from the state, in particular, changes in the tax legislation to facilitate to overcome international barriers …

International Organization of Vine and Wine (OIV) has accepted Georgia’s proposal to include Qarvisferi Ghvino (Amber-colored Wine), made by traditional Georgian methods, in the list of special wines. OIV has positively accepted this proposal of Georgia party, Giorgi Samanishvili, head of National Wine Agency, said. “This decision is one more …

Georgia’s economy has recorded favorable growth indicators in the first quarter of 2017, Geostat, the national statistics service of Georgia, reports. In March 2017 the real GDP growth rate marked 5.3%, as compared to the same period of 2016, while the averaged real growth in the first quarter marked 5%. …

The European Bank for Reconstruction and Development (EBRD) estimates the possibility of third large bank entering Georgian market, however, considers that currently it is less likely to happen. Regional representative of EBRD, Bruno Balvanera declared that two large banks already own large shares at the market which limits the possibility of new bank, entering the market. …